Middle East: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in the Middle East

The Middle Eastern glass fibre and article market declined modestly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Glass Fibres and Glass Fibre Articles in the Middle East

In value terms, glass fibre and article production fell markedly to $X in 2022 estimated in export price. In general, production, however, posted a resilient increase. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports in the Middle East

In 2022, the amount of glass fibres and glass fibre articles exported in the Middle East fell slightly to X tons, dropping by X% on 2021. Overall, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then declined modestly in the following year.

In value terms, glass fibre and article exports expanded rapidly to $X in 2022. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Bahrain (X tons) and Turkey (X tons) represented roughly X% of total exports in 2022. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (X%) and Kuwait (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bahrain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Bahrain ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

In terms of the main exporting countries, Bahrain, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Glass Fibres and Glass Fibre Articles

Imports in the Middle East

In 2022, approx. X tons of glass fibres and glass fibre articles were imported in the Middle East; approximately equating 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, glass fibre and article imports expanded modestly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

Turkey represented the main importer of glass fibres and glass fibre articles in the Middle East, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Saudi Arabia (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons), Iran (X tons) and Israel (X tons). All these countries together held approx. X% share of total imports. The following importers - Oman (X tons) and Qatar (X tons) - each reached a X% share of total imports.

Turkey was also the fastest-growing in terms of the glass fibres and glass fibre articles imports, with a CAGR of X% from 2012 to 2022. At the same time, Israel (X%), the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%), Qatar (X%) and Oman (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), the United Arab Emirates (X p.p.) and Israel (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (X p.p.), Oman (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported glass fibres and glass fibre articles in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

In Turkey, glass fibre and article imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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